Gardiner & Theobald Completes Long-Term Strategic Partnership With Hennick & Company
August 06 2024 - 10:05AM
Gardiner & Theobald LLP (“G&T”), an independent
construction and property consultancy with 1,400 professionals
providing project management, cost management, infrastructure
management and specialist consultancy across all sectors of the
built environment announced today that it has completed a long-term
strategic partnership with Hennick & Company, Inc.
(“HennickCo”), a private firm focused on making long-term
investments in well-managed, growth-oriented and scalable
professional services firms. The new strategic partnership will
preserve G&T’s independence, brand and heritage while
positioning the firm for continued growth and expansion throughout
the United Kingdom, the United States, Ireland and beyond. For the
12 months ending 30th April 2024, G&T generated global revenues
of GBP£292 million (US$379 million).
For G&T, this new partnership is an
important step in the continued evolution of the practice since its
founding in 1835 and will enable further growth and innovation
while maintaining the firm’s distinctive culture. This investment
establishes a long-term partnership that sees G&T continue as a
Limited Liability Partnership, ensuring that the next generation of
professionals have the opportunity to become partners in the
future. 100% of the equity partners of G&T voted unanimously to
support the partnership, recognising the strategic advantages of
this new collaboration and the wealth of experience that HennickCo
will bring to accelerate the growth of the firm. G&T will
continue to be known as “Gardiner & Theobald LLP” and all
partners and employees will remain in their current roles to ensure
no disruption to the delivery of G&T’s World-Class Service to
its clients – which remains paramount.
G&T’s entire senior leadership team,
including its Managing Partner, Adam Glover, will remain in their
current positions with full autonomy and control over day-to-day
operations to ensure that the culture of G&T endures for the
organisation’s talented professionals, clients and stakeholders.
G&T will remain headquartered in the United Kingdom and will
continue to operate under its current brand and in its present
locations. As part of the transaction, HennickCo and G&T
established a clear process by which the firm will expand its
current ownership base over time to welcome the next generation of
professionals into the partnership. This new structure will allow
the firm to drive growth in its core markets and beyond while
ensuring that G&T continues to attract and retain the world’s
most talented project and programme managers, cost managers, and
other specialist advisors.
Adam Glover, Managing Partner of G&T, said
“We are delighted to welcome HennickCo as a long-term investor and
well aligned strategic partner. This provides G&T with an even
stronger platform and significant financial strength to grow our
business. HennickCo shares the culture, ethos, values and
entrepreneurial spirit which is at the heart of G&T. Getting to
know and learning to work with them over a number of months we have
developed a unique partnership solution which we believe will
benefit both organisations over the long term. Most importantly, we
believe this new partnership will benefit our clients, strengthen
our World-Class Service offering and provide even greater
opportunity for our people in the years to come. Our equity
partners were unanimous in their support for the new partnership
and all partners will remain in their current roles.”
Bradley Hennick, Managing Director of HennickCo,
said, “We are honored to become a part of G&T’s incredible
nearly 200-year legacy and look forward to working with Adam and
the rest of the senior leadership team and partners to strengthen
the firm’s market leading project management, cost management and
infrastructure management platforms and position it for further
growth and expansion. This transformational investment is yet
another example of HennickCo’s ability to craft bespoke, long-term,
partnership transactions that maintain the brand, legacy and
independence of high-performance professional services firms on a
global scale.”
Financial terms of the transaction were not
disclosed.
ABOUT GARDINER &
THEOBALD
G&T is a construction and property
consultancy with 1,400 dedicated and highly specialised
professionals committed to providing World-Class Service to its
clients. Founded in 1835, G&T provides Cost Management, Project
Management, Infrastructure Management and Specialist Consultancy
across all sectors of the built environment. The firm is
selectively international and operates from a network of offices in
the United Kingdom, United States and Ireland. G&T is
recognised as one of the leading consultancies in the sector and
has delivered some of the world’s most recognisable construction
and property projects, including complex corporate office schemes,
high-end residential and mixed-use developments, critical
infrastructure, energy and utilities projects, five-star luxury
hotels, resorts and restaurants, arts, heritage and cultural
venues, innovative healthcare and educational institutions, and
large-scale industrial, manufacturing, data centre and
life-sciences facilities. To learn more about G&T, please visit
www.gardiner.com
ABOUT HENNICK &
COMPANY
Hennick & Company is a private firm that
invests in growth-oriented professional services and human capital
businesses for the long-term. Since its founding, HennickCo has
made a number of bespoke, long-term investments in a variety of
globally recognised, high-performance professional services firms.
As a privately-owned company backed by permanent capital, HennickCo
can invest with a long-term time horizon, in any geography, in
privately owned or publicly traded businesses, and at any point in
the economic cycle. The firm does not have pre-determined
investment hold periods and operates in an entrepreneurial fashion.
HennickCo’s goal is to identify, invest in and participate in the
growth of great professional services businesses in partnership
with strong leadership teams and its investment partners. To learn
more about HennickCo, please visit www.hennick.com.
MEDIA CONTACT, HENNICK & COMPANY:
Bradley Hennick
Hennick & Company
416.966.9500